Insider Selling: Arlo Technologies, Inc. (NYSE:ARLO) CFO Sells 184,589 Shares of Stock

Arlo Technologies, Inc. (NYSE:ARLO) CFO Kurtis Joseph Binder sold 184,589 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $10.70, for a total value of $1,975,102.30. Following the sale, the chief financial officer now directly owns 977,457 shares in the company, valued at $10,458,789.90. This trade represents a 15.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Kurtis Joseph Binder also recently made the following trade(s):

• On Tuesday, March 4th, Kurtis Joseph Binder sold 12,155 shares of Arlo Technologies stock. The stock was sold at an average price of $11.50, for a total value of $139,782.50.

Arlo Technologies Stock Performance

Arlo Technologies stock opened at $10.59 on Wednesday. Arlo Technologies, Inc. has a fifty-two week low of $9.92 and a fifty-two week high of $17.64. The stock has a fifty day moving average of $11.52 and a two-hundred day moving average of $11.58. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of -42.36 and a beta of 1.66.

Institutional Trading of Arlo Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC grew its holdings in shares of Arlo Technologies by 283.0% during the third quarter. Quest Partners LLC now owns 2,547 shares of the company’s stock worth $31,000 after buying an additional 1,882 shares in the last quarter. Intech Investment Management LLC grew its stake in Arlo Technologies by 30.5% in the 3rd quarter. Intech Investment Management LLC now owns 28,710 shares of the company’s stock worth $348,000 after acquiring an additional 6,703 shares during the period. Landscape Capital Management L.L.C. acquired a new position in Arlo Technologies in the 3rd quarter valued at $612,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Arlo Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,036,400 shares of the company’s stock worth $12,551,000 after purchasing an additional 14,308 shares during the period. Finally, Swedbank AB boosted its holdings in shares of Arlo Technologies by 37.5% during the third quarter. Swedbank AB now owns 1,100,000 shares of the company’s stock worth $13,321,000 after purchasing an additional 300,000 shares during the last quarter. Hedge funds and other institutional investors own 83.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ARLO shares. Craig Hallum raised their price target on Arlo Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Roth Capital set a $22.00 price objective on shares of Arlo Technologies in a research note on Friday, February 28th. Finally, BWS Financial restated a “buy” rating and set a $24.00 target price on shares of Arlo Technologies in a research report on Friday, February 28th.

About Arlo Technologies

Arlo Technologies, Inc, together with its subsidiaries, provides a cloud-based platform in the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. The company offers Arlo Essential Cameras and Doorbells (2nd Generation) delivers smart home protection, including automated privacy shield, 180-degree field of view, and 2K video resolution; Arlo Home Security System, an all-in-one multi-sensor that provides access to security experts for monitoring and responding to emergency situations; Arlo Pro 5S, a wireless 2K video resolution security camera; Arlo Go 2, a camera for monitoring remote areas, large properties, construction sites, vacation homes, boat or RV slips, and hard-to-access areas; Arlo Ultra 2 provides 4K video with HDR, an ultra-wide, 180-degree field of view, auto zoom and tracking on moving objects, and color night vision; and Arlo Floodlight Camera, a wire-free floodlight camera.